Caterpillar (CAT) 10-K Summary — Year Ended Dec 31, 2023
Caterpillar reported a year of revenue growth and strong operating cash flow. The company's financial position remains supported by its operating activities and available liquidity.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Caterpillar reported a year of revenue growth and strong operating cash flow. The company's financial position remains supported by its operating activities and available liquidity.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$67.1B
Revenue reported for the fiscal year.
Operating income
$13B
Income from operations reported for the year.
Net income
$10.3B
Net income reported for the year.
Operating cash flow
$12.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $51B | n/a |
| Dec 31, 2022 | $59.4B | +16.6% |
| Dec 31, 2023 | $67.1B | +12.8% |
Business overview
Caterpillar operates through Machinery, Energy & Transportation (ME&T) and Financial Products segments. The filing does not provide additional detail on the company's products or services.
Financial performance
Revenue increased compared to the prior year. Operating income and net income were reported, and operating cash flow was strong. The company's operating cash flow improved significantly from the previous period.
Material risks
The supplied filing context does not contain specific risk factor descriptions. No material risks were identified from the available text.
Liquidity and capital
The company generates substantial operating cash flow from its ME&T operations, which serves as the primary funding source. It also uses commercial paper and long-term debt, and total debt increased while the cash position remained sizable.
What to watch
Investors should monitor the trend in operating cash flow in the next filing.